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S&P Global Ratings’ ‘AA’ rating on £268m UK hospital refinancing is covered by specialist press

S&P Global Ratings has assigned its ‘AA’ long-term issue rating to the £268m guaranteed senior secured debt refinancing of the oncology wing at St. James’s University Hospital, Leeds, UK. In addition, S&P issued a ‘BBB’ for the underlying project.

The debt, which is structured into three tranches to appeal to investors of varying risk appetite, is wrapped by insurer, Assured Guaranty. Explaining the refinancing deal to IJGlobal, Michela Bariletti, S&P’s senior director of infrastructure ratings, said: “The wrap means that instead of buying the risk of the project, investors buy Assured Guaranty’s risk.”

S&P’s rating for the refinancing was covered by specialist press outlets, including, IJGlobal, Inspiratia, Global Capital, and InfraNews (subscriptions are required).

 

 

Image credit: CC Search user: Carl Milner (License)

 

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